Vero Beach council to consider early retirement for 88 employees

VERO BEACH – The Vero Beach City Council will convene this morning to discuss offering early retirement to as many as 88 employees.

The council has called a special meeting starting at 9:30 a.m. to determine how best to save on the city’s payroll. One option would be through a voluntary reduction in workforce, according to city officials.

By Oct. 1, 88 city employees will be 55 years old or older and have at least five years or more service to the city.

Those who would the proposed early retirement package by Aug. 31 would receive the following benefits:

Receive pay through Sept. 30.

Pension benefit to be calculated based on what the employee’s five-year average annual pay would have been in the first pay period of 2011.

Employee eligible to receive first pension check on Sept. 1.

Receive 1 percent Cost of Living Adjustment for retiree pension.

“The City of Vero Beach wishes to implement a one-time incentive program to encourage eligible employees to retire,” City Manager Jim Gabbard wrote in a memo to council members prior to the meeting.

Gabbard wrote that the city would have to negotiate any potential plan with the Teamsters union for employees covered by that union.

“The option to reduce our workforce must be considered as we prepare our proposed budget for Fiscal Year 2010-2011,” Gabbard wrote.

The proposed plan was crafted by several departments, including the city’s finance, human resources and public works/engineering department.

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